TORONTO, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Newscope Capital Corporation (CSE: PHRM) (OTCQB: PHRRF), who through its wholly-owned subsidiary, PharmaTher Inc. (“PharmaTher”), is a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals, is pleased to announce that PharmaTher has entered into a sponsored research agreement with the Terasaki Institute to develop a novel microneedle patch that aims to deliver psychedelic pharmaceuticals such as psilocybin, 3,4-methylenedioxy-methamphetamine (“MDMA”), lysergic acid diethylamide (“LSD”) and N, N-dimethyltryptamine (“DMT”) through microdosing for unmet medical needs.
PharmaTher’s microneedle delivery technology, based on novel biocompatible and biodegradable gelatin methacryloyl material (“GelMA”), was invented and developed by the members of the Khademhosseini Lab at the University of California, Los Angeles (“UCLA”), and the Terasaki Institute continues to utilize and expand upon its capabilities.
PharmaTher will focus on developing a microneedle patch for microdosing of psychedelics that may overcome the potential drawbacks of oral administration, subcutaneous injections, topical and nasal delivery systems. The product and clinical development plan will seek to obtain FDA approval in delivering various psychedelics for various mental health, neurological and pain disorders.
The Terasaki Institute for Biomedical Innovation is a biotechnology institute which develops medical devices and cutting-edge protocols for a variety of diagnostic, monitoring and treatment applications. Their research platforms include work in biomaterials, cellular and tissue engineering, wearable biosensors and organs-on-a-chip.
“We are excited to work with the Terasaki Institute and the inventors of the GelMA delivery technology as it enables a solid foundation to expedite the product and clinical development for a first-of-a-kind microdosing delivery system for psilocybin, MDMA, LSD and DMT to treat serious unmet medical needs,” said Fabio Chianelli, CEO of PharmaTher. “Our focus is pursuing prescription-based psychedelic pharmaceuticals for FDA and international regulatory approvals, and unlocking the potential therapeutic value of these compounds via a proprietary microneedle patch. We look forward to working with the Terasaki team lead by the Director and CEO of the Terasaki Institute, Dr. Ali Khademhosseini, in delivering next generation psychedelic pharmaceuticals with the aim to improve therapeutic and safety outcomes while potentially offering a differentiated product profile, improving patient compliance and enabling out-patient treatment options.”
“Our microneedle technology enables one to deliver medications in a safe, easy, painless and minimally-invasive manner, said Dr. Khademhosseini. “It also allows for controllable drug delivery, using materials that are highly biocompatible and biodegradable.”
The GelMA microneedle (Figure 1) delivery technology is safe and painless and has demonstrated to deliver water-soluble and insoluble drugs with desirable release profiles. GelMA is derived from the natural polymer gelatin with crosslinkable methacrylate making it an ideal candidate for microneedle fabrication and various other biomedical applications. The GelMA microneedle patch can efficiently penetrate the stratum corneum layer (outer layer of the skin), enable flexible drug load capacity and combinations, and control-release delivery. Microneedles are considered as a promising way to achieve systemic effects by transdermal delivery of drugs.
About PharmaTher Inc.
PharmaTher Inc., a wholly-owned subsidiary of Newscope Capital Corporation (CSE: PHRM) (OTCQB: PHRRF), is a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals for FDA approval to treat mental health, neurological and pain disorders.
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